The Morrison Government will boost resourcing for two key regulators under the 2022 budget, but the Australian Securities and Investments Commission has missed out on additional funding.
According to agency resourcing papers released last night in the budget, the staff headcount at the Australian Prudential Regulation Authority is expected to increase by around 6 per cent or 44 roles to 829 positions.
Since the 2015 budget APRA has mustered a significant increase in financial support from the federal government with staff numbers expanding by 40 per cent.
Staff numbers are also expected to increase at the Australian Competition and Consumer Commission next year even though several of its regulatory functions including oversight of the Consumer Data Right regime are being migrated to the Department of Treasury.
According to the budget papers, the ACCC currently employs 1169 staff, but this is expected to rise to 1,235 in 2022.
ASIC’s total headcount will reduce by around 218 staff to 1878 positions – an 11 per cent decline.
However, Banking Day believes that most of the reduction is attributable to the imminent transfer of its corporate registry business – which employs about 200 staff - to Treasury.
The success of the government’s first home buyer deposit scheme has resulted in additional funding for new staff at the National Housing Finance and Investment Corporation.
The corporation’s headcount is expected to rise from 10 to 18 in 2022 as it assumes oversight of the government’s family home guarantee scheme.